https://www.taxtmi.com/caselaws?id=336246 The Tribunal upheld the penalty of Rs. 2.5 lakhs imposed under Section 112 of the Customs Act, 1962 on the appellant for possession of smuggled gold. This decision was based on the appellant's knowledge of the gold's foreign origin, his history of similar offenses, including a previous penalty upheld by the High Court, and the lack of legal acquisition documentation for the gold. The Tribunal found no grounds to waive the penalty and dismissed the appellant's appeal, affirming the penalty imposed. en-us Tue, 26 Jul 2016 00:00:00 +0530 Tue, 10 Jan 2017 11:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=336246 The Tribunal upheld the penalty of Rs. 2.5 lakhs imposed under Section 112 of the Customs Act, 1962 on the appellant for possession of smuggled gold. This decision was based on the appellant's knowledge of the gold's foreign origin, his history of similar offenses, including a previous penalty upheld by the High Court, and the lack of legal acquisition documentation for the gold. The Tribunal found no grounds to waive the penalty and dismissed the appellant's appeal, affirming the penalty imposed. Case-Laws Customs Tue, 26 Jul 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=336246